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calculator: budgeting for a baby


Now that you’ve outlined all of the costs associated with the new addition to your family and created a budget, you have an accurate idea of just how much preparing for a baby will cost. Now it’s time to start saving so you don’t wind up going into credit card debt before the baby is even born!

There are many tactics to start saving. The first is to use ACCC’s saving for a goal financial calculator to help you determine how much money you need to set aside and save on a regular basis before the baby is born to meet your goal (the amount you determined when you used the budgeting for a baby calculator).

Another method is to start saving by cutting back on your normal expenses. Use ACCC’s How to Build Savings by Cutting back guide to learn tips on how to save in all of your regular expense categories including housing and utilities, insurance and retirement, food, transportation, health care, and clothing and services.

Another method is the keep change saving strategy. You will not be able to save a lot of money quickly with this method, but you’ll be surprised how much you will be able to save over time.

American Consumer Credit Counseling (ACCC) provides nonprofit credit counseling, debt relief, and debt elimination services for consumers nationwide. We offer free credit counseling to help consumers identify the right debt reduction program or debt solution for their unique situation. Since 1991, our certified credit counselors have helped thousands of individuals and families learn how to pay off a credit card balance and how to get out of debt fast through programs designed to payoff credit card debt within five years. Our debt management programs consolidate card credit debt payments and help reduce interest rates and finances charges, reducing the time it takes for getting rid of debt. And we offer comprehensive financial education services where consumers can get answers to questions like "How do I create a budget?", "What is debt consolidation?" and "How can I avoid debt in the future?"

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